Auto lenders operating in California — the nation’s second-largest auto market — saw a surge in lien volume created through dealerships in September, pushing the state into year-over-year growth following a rough end to summer.
Auto liens increased 14.1% YoY to 252,929, with Capital One Auto Finance, Chase Auto, Toyota Financial Services posting YoY growth over 30%, according to an Auto Finance News analysis of AutoCount data. CarMax Auto Finance, the state’s big winner, increased its market share by 51.4% YoY.
1
Toyota Financial Services
34,505
24,324.00
16,662.00
7,662.00
10,181.00
10,152.00
29.00
26,437
30.5
25,710
34.2
2
American Honda Finance
18,455
10,511.00
8,855.00
1,656.00
7,944.00
7,909.00
35.00
13,243
39.4
16,619
11.0
3
Chase Auto
17,634
15,127.00
8,503.00
6,624.00
2,507.00
2,400.00
107.00
12,669
39.2
13,565
30.0
4
Capital One Auto Finance
14,348
14,295.00
3,973.00
10,322.00
53.00
1.00
52.00
12,009
19.5
11,041
30.0
5
Ally Financial
8,093
7,406.00
1,806.00
5,600.00
687.00
653.00
34.00
6,894
17.4
7,758
4.3
6
BMW Bank NA
7,772
3,650.00
1,248.00
2,402.00
4,122.00
3,090.00
1,032.00
6,408
21.3
7,904
-1.7
7
Ford Motor Credit
7,660
5,078.00
4,287.00
791.00
2,582.00
2,337.00
245.00
5,612
36.5
6,763
13.3
8
VW Credit Inc
7,301
3,572.00
1,996.00
1,576.00
3,729.00
3,692.00
37.00
5,473
33.4
6,242
17.0
9
CarMax Auto Finance
6,866
6,855.00
11.00
6,844.00
11.00
2.00
9.00
4,892
40.4
4,534
51.4
10
Mercedes-Benz Financial Services
6,578
2,601.00
983.00
1,618.00
3,977.00
3,523.00
454.00
5,717
15.1
6,102
7.8
11
TOTAL CALIFORNIA
252,929
205,096.00
83,788.00
121,308.00
47,833.00
44,939.00
2,894.00
201,157
25.7
221,685
14.1
Source: AutoCount, a unit of Experian Automotive
The growth comes on the heels of a rough end to the summer season. In August, the Golden State was trailing 22.5% behind 2019’s figure, but posted a 25.7% increase in sequential growth in September.
The COVID-19 economic crisis has shaken up normal seasonal trends following closures in March and April, one of the nation’s busiest time of year for auto sales. Used-vehicle values, too, only began returning to normal seasonal depreciation patterns in November after months of record appreciation.
